Friday, 25 July 2014
Last updated 2 hours ago
Feb 12 2014 | 12:18pm ET
Credit Suisse's Brazilian hedge fund posted only a slight decline in the face of economic turmoil in emerging markets—including Brazil.
Credit Suisse Hedging-Griffo's Fundo Verde dropped 0.06% last month. The fund's stock holdings suffered the loss, which was offset by its fixed-income and currency investments.
"There was in fact excess optimism in prices, which was corrected throughout January and the start of February," Hedging-Griffo told investors this week. And the firm sought to shift blame for the troubles from the U.S. and China.
Hedging-Griffo wrote that uncertainty in those markets is "particularly toxic" for emerging markets, but that troubles in the latter "won't end because of a decision by the Federal Reserve of the Chinese Communist Party."
"Prices have already started to adjust and, in some cases, policies too. But this movie is far from over."
Fundo Verde manages more than 20 billion Brazilian reais (US$8.3 billion) in assets.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…